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You don't do it on one layer or with one key. It's hard to show how this would work without a screenshot of the original video but if you were to throw green paint from a can in a white studio you would have highlights, shadows and different light on many parts of the paint. You may be able to adjust the settings or add more one copy of your keyer to pull a clean matte from the paint but you would probably be better off duplicating the layers and combining several layers into one clean matte that you could use as a track matte for the footage. Once you have the clean track matte to cleanly knock out the edges of the paint you would use another duplicate of the footage to generate a grayscale copy of the footage that you could use as kind of a bump map for the replacement footage. You may be able to do this with some simple color correction. Then it's just a matter of using your good matte to knock a hole in the shot where the paint would be, adding in your new color or images, and then using a masked displacement map with a blend mode or even better, with something like FreeForm Pro to give depth to the replacement images.
I found a low rez copy of some green paint in slow motion and set up the project like this using a screenshot of the footage.
Final Composite. Pay attention to the blend mode of the bump map.
If you used something like Freeform Pro you could do an even better job of creating the effect.
I hope this gets you started. BTW, if you are going to try something like this you will have much better results if the footage is shot with a professional camera that a will give you 4:4:4 color and little compression. You can kind of pull it off with a consumer camera or even a cell phone, but to get the footage to look like the footage in the Adobe commercial you'll need pro gear to pull a clean enough key to duplicate the results.